23 -OR GENETIC TESTING Company has presented Chapter 11 Protection of bankruptcy in the US to begin selling its assets. In addition to the announcement, the co -founder and CEO of the company Anne Wojcicki separately is letting the company become an independent bidder for the company.
“After a full assessment of strategic alternatives, we have determined that a court -supervised sale process is the best way forward to maximize the value of the business,” said Mark Jensen, chairman and member of the Board of Directors Special Committee in a statement.
“We expect that the court -supervised process will advance our efforts to address the operational and financial challenges we face, including further reduction in cost and resolving legal and renting obligations. We believe in our people’s value and assets and hope that this process allows our mission to use, understand, and benefit from human genomers and human genomes.”
“Special Committee 23Andme issued news today that show their plan to take the company through the process of chapter 11. While I am disappointed we have reached this conclusion and my offer was rejected, I am supportive of the company, and I aim to be a bidder. post in a post in a post.
23 ORDERS HAS AFTER THE PUBLIC AGAINST WAS PUBLIC IN 2021. Most popular for the complete salivary tests that offer customers a brief presentation in their genetic origin, the company has seen its market capitalization fall more than 99% from a $ 6 billion roof as it failed to return a profit.
Then in 2023, the 23rds suffered a massive internet attack in which data from nearly 7 million customers, including the genetic predisposition of users and the reports of origin, were stolen from hackers. In September 2024, the company filed a lawsuit over data breach paying $ 30 million, and soon after that, Wojcicki said she was exploring the private company.
At the time of writing, the company’s market value was about $ 48 million, trading its stock at $ 1.79.
